It ensures that local communities see the benefits of business developments, providing jobs and boosting the economy, like a rising tide that lifts all boats.
Not quite! The Clawback Guaranty is typically tied to specific agreements made with businesses that receive incentives, so it’s not a blanket rule.
The city officials assess the situation—think of them as the referees making sure everyone plays by the rules.
If a company falls short of its targets, the city will take action to recover what it’s owed, keeping everything above board and fair.
If a business doesn't meet its agreed-upon goals, like job creation or investment, the city can reclaim some of the benefits, effectively saying, 'No hard feelings, but we need to make things right.'
The Mesa Arizona Clawback Guaranty is a safety net for the city, ensuring that if a company receives incentives and doesn't pull its weight, the city can get back some of that support.